AuctionWatch.com Secures More Than $27 Million in Financing Led by Technology Crossover Ventures.

Business Editors/High-Tech Writers

SAN BRUNO, Calif.--(BUSINESS WIRE)--June 22, 2000

AuctionWatch.com Delivers Online Solutions For Small And Large

Businesses To Sell More Effectively In The Online Auction Channel

AuctionWatch.com, the leading provider of solutions that enable businesses to leverage dynamic commerce, today announced that it has completed a Series C financing totaling $27.8 million in capital, bringing the total capital raised since company inception to over $37 million.

The round was led by new investor Technology Crossover Ventures, a venture capital firm specializing in multi-stage venture capital that invests in promising Internet companies across all stages of growth from early, expansion, late and into the public market. Other new investors include meVC Draper Fisher Jurvetson Fund I (NYSE:MVC) and Bulldog Capital. Existing investors Sequoia Capital, CMGI @Ventures, Angel Investors LP, and Argus Capital also participated in the round. The new investment funds will be used for the continued product development of comprehensive online sales solutions for businesses, building additional infrastructure as well as expanding the AuctionWatch.com team.

AuctionWatch.com provides an innovative suite of eCommerce enabling applications that allow businesses of all sizes, both large and small, to benefit from dynamic pricing environments. These services provide businesses with the tools and software necessary to efficiently distribute merchandise and acquire customers while providing a convenient comparison-shopping service for buyers to locate and purchase these products. AuctionWatch.com's powerful suite of products is centered on three main areas: Seller Services, Buyer Services, and Post Sale Management Solutions for both buyers and sellers, which when combined form a virtuous cycle creating valuable networking effects.

"As the eCommerce environment continues to evolve, we believe that the dynamic commerce channel represents an excellent opportunity for businesses to grow both their profits and customer base," commented Brooke Seawell, General Partner at Technology Crossover Ventures. "We believe that AuctionWatch.com is providing a service that is going to transform the way most businesses sell over the Internet. Whether it be a large traditional bricks-and-mortar company or an online micro business, the technology and services that AuctionWatch.com provides will help these companies sell products more profitably over the Internet."

Forrester Research estimates that the growth of business-based auction sales is expected to double over the next few years, and will drive approximately 66 percent of the online auction market by 2005. The AuctionWatch.com suite of seller services streamlines the online sales process by providing a turnkey auction sales solution designed to automate the time consuming tasks of distributing large volumes of merchandise through the consumer auction channel.

About Technology Crossover Ventures

Technology Crossover Ventures (TCV) was founded in 1995 to capitalize on the emergence of the Internet and to create a new model for Internet investing by combining the best of venture capital and public market investing. It is one of the largest venture firms in the country focused exclusively on the Internet, having raised over $2.5 billion since 1995. TCV has twelve partners at offices in Palo Alto and New Jersey. The company provides multi-stage venture funding -- from $3 million to $75 million per company -- and leverages its venture activity into the public market.

About meVC Draper Fisher Jurvetson Fund I, Inc.

meVC Draper Fisher Jurvetson Fund I, Inc., an information technology venture capital fund, was formed through a collaborative effort between meVC, a Delaware corporation, and Draper Fisher Jurvetson, a leading venture capital investment firm. The Fund's investment objective is long-term capital appreciation from venture capital investments in information technology companies, primarily in the Internet, e-commerce, telecommunications, networking, software and information services industries.

About AuctionWatch.com

With over 2.8 million unique visitors a month and hundreds of thousands of registered sellers, AuctionWatch.com is widely recognized as the company of choice for businesses looking to efficiently distribute merchandise to auction and cost effectively acquire customers. In addition to its suite of powerful seller services, AuctionWatch.com offers buyers an industry-leading search capability, allowing them to conveniently locate items across hundreds of auction sites. The company also publishes daily content on the auction industry, hosts the industry's premier online appraisal service, and has the most active independent message boards of its kind. Based in San Bruno, AuctionWatch.com is privately held and funded by Sequoia Capital, Technology Crossover Ventures, CMGI @Ventures, meVC Draper Fisher Jurvetson, Angel Investors LP and private investors.